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Current location: Home » Inventors » Working with the inventor
Many of the truly innovative products are conceived by the people who really know what's required - the practising clinicians.
MDi was specifically established to fund and develop pioneering
products based on breakthrough technology. Of course, we are very
selective in what we take on: projects must be based on great science
or insight, they must be patentable and must be directed at major
market opportunities. Whilst we are not therapeutically constrained, we
are focused on interventional medical devices, so if it is a diagnostic
or consumer product, it is probably not for MDi.
Once a ground-breaking technology has been identified, we seek an
agreement with the owner of the IP on an 18 months exclusive option
period to acquire the intellectual property rights (IPR) on terms laid
out in an Option Agreement and Transfer of IP Agreement. During this
time, we spend money on the further development of the technology to
establish proof of principle. This may include prototyping, in-vitro and in-vivo
experiments, or even clinical evaluation. We seek to actively involve
the inventor in this development as much as possible, usually through a
consultancy agreement.
At the same time we also ensure, at our cost, that all appropriate
protection measures for the IP are taken, and manage this process
accordingly.
Should we at any stage during this period decide not to move on any
further (e. g. prior art has been identified or the concept cannot be
transformed in a working prototype) the complete project with all its
added value is returned by MDi to the owner free of charge. In most
cases, we acquire the IPR for pre-agreed consideration as detailed in
the Option & Transfer of IP Agreements. We then progress the
development together with the inventor until a working, clinically
proven prototype or small production series has been achieved. At that
stage we negotiate with global medical device companies to sell or
license out the technology, which will have significantly increased in
value due to the development work undertaken. Once again, inventors and
IP owners will benefit at this point in line with the pre-agreed terms.
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